Krum, as a former shareholder I would be interested to get your insight into the Mt Mulligan coal project debacle. How was it that $1M of shareholders money was paid to Calcifer for that lease without them first having signed over the lease documents? MNM had to drag them to court which went on for about 2 years to get the leases signed over. How was it that MNM management let this situation occur, when it could have been avoided if the $$$ was first paid into a solicitors trust account and not released until the vendor(calcifer)signed over the relevant documents? just like when u buy a house, you don't just deposit the cash in the vendors bank account and pray that they sign over the deeds to the property? There are systems in place to avoid this kind of skulduggery.This was never explained to shareholders, and even worse, when the leases finally got signed over after 2 years of court dramas, then we were told that the leases were basically worthless as the land was designated as Sterile, meaning no mining could occur anyway. This was an absolute farce and a massive failure by previous management as far as im concerned, of which you were a big part. A lot of shareholders lost a lot of money because of this and it appears it was because of total incompetence of the previous BOD. Please correct me if I am wrong.
AUL Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
